First Solar (NASDAQ:FSLR) Upgraded at Seaport Res Ptn

Seaport Res Ptn upgraded shares of First Solar (NASDAQ:FSLR) from a hold rating to a strong-buy rating in a research report released on Wednesday,Zacks.com reports. Seaport Res Ptn also issued estimates for First Solar’s Q4 2024 earnings at $4.87 EPS and FY2024 earnings at $13.23 EPS.

Several other research firms have also weighed in on FSLR. Bank of America reduced their price objective on shares of First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley reduced their price target on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Mizuho decreased their price target on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Evercore ISI dropped their price objective on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Robert W. Baird decreased their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

First Solar Stock Performance

Shares of First Solar stock opened at $192.88 on Wednesday. The firm has a fifty day moving average of $190.18 and a two-hundred day moving average of $209.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock has a market capitalization of $20.65 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.21 and a beta of 1.49. First Solar has a 52 week low of $135.88 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company posted $2.50 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities research analysts predict that First Solar will post 13.09 EPS for the current year.

Hedge Funds Weigh In On First Solar

A number of large investors have recently modified their holdings of FSLR. AlphaMark Advisors LLC bought a new stake in First Solar during the third quarter worth about $25,000. Strengthening Families & Communities LLC acquired a new position in shares of First Solar during the 3rd quarter worth approximately $25,000. Kennebec Savings Bank bought a new stake in shares of First Solar during the 3rd quarter worth approximately $29,000. Itau Unibanco Holding S.A. acquired a new stake in shares of First Solar in the 2nd quarter valued at approximately $38,000. Finally, Larson Financial Group LLC grew its stake in shares of First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after buying an additional 107 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.